Spirit Realty Capital and Cole Credit Property Trust II have completed their $7.4 billion merger. The two Arizona-based REITs will be managed by Spirit and will have a combined portfolio of about 1,900 properties across 48 states. "The new company's diversified portfolio and flexible balance sheet will enable us to capitalize on a range of future opportunities, including both organic direct portfolio acquisitions and strategic transactions," said Spirit CEO Thomas Nolan.

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